Latest Updates on Private Equity Sector This Week
In a notable move, Antonio Gracias, a private equity executive, has been appointed to the Social Security Administration (SSA) by Elon Musk's Department of Government Efficiency (DOGE), according to a July 2025 report. Gracias' role within the SSA was specifically within the DOGE, raising concerns about potential privatization of Social Security and the risk of benefit cuts linked to DOGE’s activities.
Josh Gruenbaum, Federal Acquisition Service Commissioner, is another Musk associate and a newly installed leader of DOGE at the SSA. Other officials like Alexander Simonpour, Nate Cavanaugh, Marshall Wood, Luke Farritor, Justin Fox, Jeremy Lewin, Frank Schuler, Ethan Shaotran, and David Malcher have also been appointed, though their specific roles at the SSA are less clearly documented.
While Gracias stands out as a key private equity executive appointed by DOGE at the SSA, other Musk-related DOGE appointees are connected more broadly to government efficiency efforts but not explicitly identified in finance or private equity roles at SSA. The broader DOGE network consists of many personnel affiliated with Musk’s business ventures and Trump’s administration, but details on their individual executive roles at SSA remain limited in open sources.
Meanwhile, Swiss private equity firm Partners Group had a record year for its evergreen investment strategies in 2024. The success is attributed to the continued expansion of its private wealth distribution network. Partners Group launched seven new evergreen strategies in 2024, bringing its total to 20 funds in this segment. Evergreen funds accounted for $8.4bn, or 39% of total inflows in 2024.
The details about the specific regions or countries where these evergreen strategies are being implemented, as well as the types of assets or industries that these strategies focus on, are not provided in the text. However, it is noted that these evergreen strategies now represent 32% of Partners Group's total Assets Under Management (AUM), which increased by 4% in 2024, reaching $152bn.
On a separate note, Blackstone is reviewing strategic options for Hello Sunshine, the media company it bought for $900m through Candle Media in 2021. A potential merger with another media company is under consideration as Blackstone reassesses its holdings in the changing entertainment market. Discussions about strategic options for Hello Sunshine are ongoing, though the company is not actively seeking buyers.
References: 1. [Source 1] 2. [Source 2] 3. [Source 3] 4. [Source 4]
- Antonio Gracias, a private equity executive, was appointed to the Social Security Administration (SSA) by Elon Musk's Department of Government Efficiency (DOGE), raising concerns about potential privatization of Social Security.
- Josh Gruenbaum, another Musk associate, is a leader of DOGE at the SSA, though his specific role is less clearly documented.
- Partners Group, a Swiss private equity firm, had a record year for its evergreen investment strategies in 2024, bringing the total number of such funds to 20.
- Evergreen funds now represent 32% of Partners Group's total Assets Under Management (AUM), which increased by 4% in 2024, reaching $152bn.
- Blackstone is reviewing strategic options for Hello Sunshine, the media company it acquired, and a potential merger with another media company is under consideration.
